Trx has hitted the top 10 list on coinmarketcap, sitting strong on the 9th place while still impacting the crypto-currency market with important news for its community such as a token airdrop, the mainnet launch and the migration of the ERC20 token to their own blockchain, something that was accelerated to June 21st of this year.
On May 1st Justin Sun wrote a tweet about the successful airdrop started on April 27th for the entire Ethereum community. This is important since TRX is actually an ERC-20 token running on the Ethereum network. Something that will change very soon
Progress Report: #TRON 30M #TRX Airdrop to #ETHEREUM Community, people who didn’t get #TRX airdrop, please bear with us as we work through #ETH congestion issues. Thank you for your patience! https://t.co/L4YqMikan9
— Justin Sun (@justinsuntron) May 1, 2018
An airdrop of no less than 30 million TRX was carried out in gratitude to the Ethereum community. Until now, only 4% has been completed because of the big number of wallets. TRX team had to increase the mining fees in order to speed up the process.
On a tweet posted on April 29th, Mt Sun also announced the countdown to the most anticipated Tron project release to date: The launch of their own the main net:
— Justin Sun (@justinsuntron) April 30, 2018
A correction may be expected soon in the same way it happened after the Testnet launch. But as always it is difficult to say exactly what will -or could- happen; but a Token swap will surely be done on exchanges only. Anything left in users’ wallets will become useless at some point in a near future.
What is a mainnet?
A mainnet is the official version of a token’s own blockchain. For example, right now, anyone who buys 1 Trx on an exchange is purchasing an ERC-20 token. Despite being Trx tokens, as long as it does not have its own network, it is using Ethereum’s.
This means that there will be a currency swap when the Trx tokens are transferred to their network -the mainnet- At that moment, all ERC-20 tokens will now be swapped on a 1 for one basis for mainnet real TRX tokens.
What should be expected after the launch of the Mainnet?
Tron will no longer be limited to the Ethereum network because it will run its own, allowing it to expand its capabilities and uses on a larger scale.
More than 1,000 transactions per second will be possible through the use of the TBFT consensus mechanism based on the point of sale, supporting transfers with ultra-low rates (10e-6 TRX per transfer).
The mainnet will go along with the migration of the ERC20 token after which TRON could become a potential competitor of Ethereum as mentioned by Justin Sun on his twitter account.
Great news for the TRX community which is now enjoying a nice bullish run which seems to be sustainable on a short period according to many technical analysts.